MultiChoice will carry losses incurred by Showmax in the “medium term”, but the goal is eventually for the streaming television service to turn a profit once broadband infrastructure in South Africa and the rest of the continent has been built out further to support it.
Streaming services pose a significant threat to MultiChoice’s future growth potential, but they are by no means the only risks exercising the minds of the pay-television operator’s management team.
Years after starting a process to sell its non-core assets, JSE-listed technology group Altron has received regulatory approval to dispose of the last company it had a controlling interest in and which it had ring-fenced for sale.
The Public Investment Corp, Africa’s biggest money manager, said it has suspended two employees after an investigation into a transaction with Ayo Technology Solutions.
Zimbabwe’s high court has ruled that unrestricted access to Internet services must be restored following a shutdown of social media applications that has lasted for almost a week.
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Multichoice Africa Group will list in the “broadcasting and entertainment” sector on the main board of the JSE on 27 February 2019, the pay-TV operator said in a statement after markets closed on Monday.
MultiChoice Africa Group, which will list on the JSE next month, expects to pay executive chairman Imtiaz Patel R22.2-million for the year ended 31 March 2019, up from R19.7-million in the 2018 financial year.
The Competition Tribunal has issued a R20-million “administrative penalty” against Computicket for abusing its dominance between mid-2005 and 2010. It has 60 business days to pay the fine.
Regulation can help customers and existing financial institutions gain more comfort in cryptocurrencies and drive the adoption of bitcoin. By Angus Brown.
